Menu
Late fee under Gst
Late fee paid under Gst is an allowable expenses under section 37 of the Act , Please clarify the correct position . It is nature of penalty or not .
Replies (4)
Not a penalty.... allowable expenses.
It is an allowable expense as I understand.
My ca mention in Audit Report it is penalty . Notice under section 143(a)(iv) received adjustment of that amount , what procedure adopted by me for allowing that expenses as a business expenses
Option 1 - Ask your CA to revise audit report and then respond as disagree.
Option 2 - Accept the adjustment and file revised return if possible if the adjustment amount is small.
Option 2 - Accept the adjustment and file revised return if possible if the adjustment amount is small.
Recent Topic
- Indexation v/s non indexation for capital gains
- Query for practicing CAs — how does your fir
- Treatment of NPS arrears in form 10E / ITR
- Sale of shares from non resident
- SEC 10(10CC) - TAX PAID BY EMPLOYER ON NON-MONETAR
- Buy back of shares
- Capital gain and federal tax withholding
- TIS amount
- Reimbursed income
- Bricks Klin
Related Topics
CAclubindia
